Our friends at Chapman Albin have asked us to post about the recent March 2nd crash of Robinhood’s trading platform. Unfortunately, that crash happened on the day of one of the largest stock market recoveries in history. Many people were unable to execute trades and lost money. Some investors lost as much as $500,000 and maybe more.
We spoke with partner Jason Albin yesterday. Even though the crash of Robinhood’s platform just occurred on Monday, the lawyers at Chapman Albin have already heard from investors who lost money.
Today we learned of a class action filed just filed in Florida. In our experience, class actions are not effective if you lost a substantial amount of money. Because investor loss recovery cases are typically handled on a contingent fee basis, it costs you nothing out of pocket to hire your own lawyer to pursue Robinhood.
Here is what Chapman Albin is doing to help Robinhood platform users:
ChapmanAlbin Accepting Investor Loss Claims Against Robinhood
The attorneys at ChapmanAlbin have been contacted by Robinhood investors who lost money during Robinhood’s March 2 trading freeze. Here are some of Robinhood investors’ most common questions:
Why couldn’t I trade or use the Robinhood app on March 2?
Robinhood reported a service outage took down the app for most of the trading day on March 2 during one of the biggest market rebounds in history.
Can I recover my money?
If you lost money on March 2 because you were not able to make a trade or series of trades and you can prove it, then you may have a case. The attorneys at ChapmanAlbin are taking claims involving losses of $50,000 or more.
What should I do if I think I have a case?
Contact the attorneys at ChapmanAlbin at 216-241-8172 for a free consultation. Most consultations only take 15 minutes or less. [Editor’s note: You can also contact them online.]
Is this a class action?
No. We do not intend to file a class action. We intend to file individual or small group actions. We believe recovery potential for investors who lost a substantial amount ($50,000 or more) tends to be greater in individual or group actions versus class actions.
Why won’t you take Robinhood cases with losses less than $50,000?
We believe cases with smaller dollar amounts may be better suited for a class action because the costs and fees associated with litigation can sometimes erode an investor’s potential for recovery to nothing. In cases with smaller dollar amounts, class actions sometimes make more sense.
What are the next steps?
Contact us at 216-241-8172 or online. If we think you have a case worth pursuing, you will retain us to represent you against Robinhood and will begin preparing your claims right away.
How much will this cost me?
We represent most people on a pure contingency fee basis. We advance costs of litigation and our recovery of costs and our attorney fee are “contingent” upon recovery. In other words, we don’t get paid, unless you get paid.
About Mahany Law. We are a full service, national boutique that handles a wide variety of fraud recovery cases including stockbroker fraud. If the case involves Robinhood, we suggest that you contact Chapman Albin directly. For larger fraud cases involving other stockbrokers, investment advisors or financial professionals and a loss of $200,000 or more, Visit our investor fraud recovery page. Ready to see if you have a case? Contact us directly online, by email or by phone at 202-800-9791.